Gamco Investors INC. ET AL Reduces Position in La-Z-Boy Incorporated (LZB)
Gamco Investors INC. ET AL reduced its stake in La-Z-Boy Incorporated (NYSE:LZB) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 481,600 shares of the company’s stock after selling 400 shares during the period. Gamco Investors INC. ET AL’s holdings in La-Z-Boy were worth $14,954,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of LZB. Sei Investments Co. raised its stake in shares of La-Z-Boy by 0.3% in the third quarter. Sei Investments Co. now owns 66,996 shares of the company’s stock valued at $1,645,000 after buying an additional 175 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of La-Z-Boy by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,340 shares of the company’s stock valued at $401,000 after buying an additional 180 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of La-Z-Boy by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 35,565 shares of the company’s stock valued at $989,000 after buying an additional 264 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of La-Z-Boy by 0.5% in the third quarter. Great West Life Assurance Co. Can now owns 66,634 shares of the company’s stock valued at $1,635,000 after buying an additional 353 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of La-Z-Boy by 1.2% in the third quarter. First Trust Advisors LP now owns 38,162 shares of the company’s stock valued at $937,000 after buying an additional 446 shares in the last quarter. 87.94% of the stock is owned by institutional investors and hedge funds.
Shares of La-Z-Boy Incorporated (NYSE:LZB) traded down 0.68% during mid-day trading on Friday, reaching $29.05. The company’s stock had a trading volume of 167,574 shares. The company has a market cap of $1.42 billion, a PE ratio of 18.35 and a beta of 0.89. The company has a 50-day moving average price of $29.43 and a 200 day moving average price of $27.78. La-Z-Boy Incorporated has a 52-week low of $22.09 and a 52-week high of $32.90.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $376.60 million for the quarter, compared to the consensus estimate of $376.29 million. La-Z-Boy had a return on equity of 14.79% and a net margin of 5.22%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities analysts expect that La-Z-Boy Incorporated will post $1.63 earnings per share for the current year.
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Several analysts have issued reports on the company. Zacks Investment Research raised La-Z-Boy from a “sell” rating to a “hold” rating in a research note on Friday, December 9th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of La-Z-Boy in a research report on Thursday, January 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.33.
In related news, SVP John Douglas Collier sold 12,000 shares of La-Z-Boy stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $32.53, for a total transaction of $390,360.00. Following the sale, the senior vice president now owns 81,065 shares of the company’s stock, valued at approximately $2,637,044.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Louis M. Riccio, Jr. sold 20,000 shares of La-Z-Boy stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $32.12, for a total value of $642,400.00. Following the sale, the vice president now directly owns 95,651 shares in the company, valued at approximately $3,072,310.12. The disclosure for this sale can be found here. Insiders have sold a total of 34,350 shares of company stock worth $1,108,853 in the last three months. 3.57% of the stock is owned by corporate insiders.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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